Financial Data and Key Metrics - Total sales growth for fiscal 2024 was 5.9%, with EPS increasing by 13%. Excluding the extra week, sales were up 3.8% and EPS was up 10.4% [7] - Q4 total sales increased by 9%, with EPS up 11%. On a 16-week basis, Q4 sales were up 2.6% and EPS was up 3.5% [8] - Domestic same-store sales grew 0.2%, while international same-store sales grew 9.9% [8] - Domestic commercial sales accelerated sequentially, finishing up 4.5% versus last year's Q4 of 3.9% [9] - International business faced a nearly 500 basis points currency headwind, resulting in reported growth of approximately 5% [9] - Q4 total sales were $6.2 billion, up 9% year-over-year. Full-year sales were $18.5 billion, up 5.9% [19] - Q4 EBIT grew 6.1%, and EPS grew 11%. Full-year EBIT was $3.8 billion, up 9.1%, and EPS was $149.55, up 13% [18][31] Business Line Performance - Domestic DIY comp sales were down 1% in Q4, with discretionary category sales down 5% year-over-year [10] - Domestic commercial sales increased 10.9% in Q4 to $1.7 billion, representing 31% of domestic auto parts sales and 27% of total company sales [20][21] - International same-store sales grew 9.9% on a constant-currency basis, with 49 new stores opened in Mexico and Brazil, bringing the total to 921 international stores [16][26] - Mega-hubs averaged significantly higher sales and grew faster than the balance of the commercial business, with 109 mega-hubs in operation [22][23] Market Performance - Domestic DIY comp sales were down 1.1% for the quarter, with traffic down 2% and ticket growth up 1% [24] - International same-store sales grew 9.9% on a constant-currency basis, but reported growth was 4.9% due to foreign exchange headwinds [26] - The company expects DIY and commercial sales trends to modestly improve in Q1 FY25, with better performance expected in Q2 and Q3 [15] Strategy and Industry Competition - The company plans to accelerate international store openings, targeting around 200 openings per year by 2028 [16] - Investments in hubs, mega-hubs, and distribution centers are expected to drive future growth and improve customer service [17] - The company is focused on improving execution, parts availability, and customer service to grow market share domestically and internationally [37][40] Management Commentary on Operating Environment and Future Outlook - Management expects consumer confidence to improve as economic conditions stabilize, which should benefit discretionary categories [10] - The company anticipates average ticket growth will return to historical industry growth rates as inflation normalizes [11] - Foreign currency headwinds are expected to impact FY25 results, with a potential $265 million drag on revenue and $3.64 per share impact on EPS [35] - The company remains committed to driving long-term shareholder value through growth initiatives, robust earnings, and returning excess cash to shareholders [34] Other Important Information - The company repurchased $711 million of stock in Q4 and has $2.2 billion remaining under its share buyback authorization [33] - Free cash flow for Q4 was $723 million, and full-year free cash flow was $1.9 billion [32] - The company expects to open 20+ mega-hubs in FY25, with most openings occurring in the second half of the year [51][98] Q&A Session Summary Question: Timing and expectations for commercial sales growth [43] - Management expects sequential improvement in commercial sales, driven by better store assortments, hub and mega-hub openings, and improved customer service [44] Question: Gross margin outlook and drivers [45] - Merchandising margin improvements and potential inflation in FY25 are expected to drive gross margin growth [46][47] Question: Hurdles to reaccelerating hub growth [49] - The company has rebuilt its pipeline and capabilities, with 70 mega-hubs under construction and plans to open 20+ in FY25 [51] Question: Cadence of commercial sales and national account performance [52] - Commercial sales were consistent across regions, with national accounts improving quarter-over-quarter, particularly in tire-related categories [55] Question: DIY and commercial market growth expectations [58] - DIY market growth has been low-single-digits due to consumer sentiment and lack of retail inflation, while commercial sales have been flat to slightly declining [61][62] Question: Gross margin impact from the 53rd week and FX headwinds [63] - The 53rd week had a noisy impact on margins, while FX headwinds are expected to continue impacting international margins [65] Question: Weekly sales per commercial program and initiatives to improve growth [67] - The company is focused on improving speed of delivery and customer service, leveraging technology and hub/mega-hub strategies [69][70] Question: Non-controllable headwinds to EBIT growth [71] - LIFO credits and FX headwinds are expected to impact EBIT growth in FY25, with $40 million of LIFO credits rolling through the P&L [72][73] Question: Inflation drivers and historical impacts [75] - Inflation is expected to return to historical levels in FY25, driven by product cost increases and technology advancements in parts [77][78] Question: Consumer behavior and historical comparisons [80] - The current consumer environment is unique, with lower-end consumers under pressure, but the company expects maintenance and repair spending to increase as economic conditions improve [81][82] Question: Double-digit EPS growth algorithm and margin structure [85] - The long-term algorithm remains unchanged, with near-term pressure from FX and LIFO headwinds. Gross margin expansion and disciplined SG&A management are key to maintaining operating margins [86][89][90] Question: Competitive pricing impact on average ticket [94] - Competitive pricing has not significantly impacted average ticket growth, which is primarily driven by cost inflation [95][96] Question: Q1 comp expectations and store growth plans [97] - Q1 comps are expected to modestly improve, with store growth plans including 20+ mega-hubs and accelerated international store openings [98][99] Question: Car park dynamics and SG&A growth [101] - The aging car park is a tailwind for the industry, with cars lasting longer and staying on the road. SG&A growth is managed to support growth initiatives while maintaining efficiency [102][106]

The auto parts retailer turned in a ho-hum quarter.Shares of auto parts retailer Autozone (AZO -1.26%) were trading 1.5% lower as of 12:40 p.m. ET Tuesday after reporting misses on both the top and bottom lines for its fiscal fourth quarter. Earlier in the session, the stock had been down by as much as 4.9%Heading into its earnings report Tuesday morning, analysts had forecast Autozone would report a $53.53 per share profit on just over $6.2 billion in sales. Autozone came close to hitting the sales estimat ...

AutoZone, Inc. (NYSE: AZO ) is still one of our favorite long-term holdings. After all of this time, the story just has not changed. The reason we love AutoZone is that the company is a compounder that Looking for gains? Get our best ideas, and do so before prices rise! We invite you to try our service before prices go up October 1st by $150 a year. And if you act now and you can lock in 75% of savings versus the $1,668 some members pay, for our fall sale which will end this week. Get direct access to our f ...

Key TakeawaysAutoZone missed fourth-quarter profit and sales estimates as higher costs and weaker consumer discretionary spending hurt results.Domestic same-store sales were up just 0.2%, but they jumped 4.9% internationally.AutoZone added 117 new stores in the quarter. Auto parts retailer AutoZone (AZO) posted worse-than-expected quarterly results Tuesday as costs rose and the company faced a decline in American customers' discretionary spending. However, it got a boost from store expansion. AutoZone repor ...

For the quarter ended August 2024, AutoZone (AZO) reported revenue of $6.21 billion, up 9.1% over the same period last year. EPS came in at $48.11, compared to $46.46 in the year-ago quarter.The reported revenue represents a surprise of +0.37% over the Zacks Consensus Estimate of $6.18 billion. With the consensus EPS estimate being $53.31, the EPS surprise was -9.75%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...

| --- | --- | --- | |-------|-------|-------| | | | ani | | | // | | | | LTHE/ | | | | | | 4th Quarter Earnings Release, FY2024 AUTOZONE, INC., © 2024 ALL RIGHTS RESERVED. Forward-Looking Statements Certain statements herein constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and typically use words such as "believe," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strat ...

AutoZone (AZO) came out with quarterly earnings of $48.11 per share, missing the Zacks Consensus Estimate of $53.31 per share. This compares to earnings of $46.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.75%. A quarter ago, it was expected that this auto parts retailer would post earnings of $35.67 per share when it actually produced earnings of $36.69, delivering a surprise of 2.86%.Over the last four quarters, the ...

EXHIBIT 99.1 AutoZone 4th Quarter Total Company Same Store Sales Increase 1.3%; Domestic Same Store Sales Increase 0.2%; 4th Quarter EPS Increases to $51.58; Annual Sales of $18.5 Billion MEMPHIS, Tenn., Sept. 24, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $6.2 billion for its fourth quarter (17 weeks) ended August 31, 2024, an increase of 9.0% from the fourth quarter of fiscal 2023 (16 weeks). Excluding sales from the additional week included in this year's quarter, adj ...

MEMPHIS, Tenn., Sept. 24, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $6.2 billion for its fourth quarter (17 weeks) ended August 31, 2024, an increase of 9.0% from the fourth quarter of fiscal 2023 (16 weeks). Excluding sales from the additional week included in this year’s quarter, adjusted sales were up 2.6%. Same store sales, or sales for our domestic and international stores open at least one year, are computed on a 16-week and 52-week basis and are as follows:       ...

AutoZone, Inc. AZO will release earnings results for its fourth quarter fiscal 2024, before the opening bell on Tuesday, Sept. 24.Analysts expect the Memphis, Tennessee-based company to report quarterly earnings at $53.69 per share, up from $46.46 per share in the year-ago period. AutoZone is projected to post quarterly revenue of $6.23 billion, compared to $5.69 billion a year earlier, according to data from Benzinga Pro.On June 19, AutoZone’s board approved an additional $1.5 billion share repurchase.Auto ...